Essayist: Support One of the claims of laissez-faire economics is that increasing the minimum wage reduces the total number of minimum-wage jobs available. ββ β ββββββ ββββββ ββββββββ ββ βββ βββββ ββββ βββββ ββ ββββββββ ββ βββ βββββββ βββββ βββββββββ βββββββββββ ββββ ββ βββββββ βββ ββββ ββββββ ββ ββββββββββββ βββββββββ ββ ββββββ βββ βββββββββ ββββββββββ βββββββββββββ βββββββββ ββ βββ ββββββββ βββββββββ
Laissez-faire economics isnβt entirely accurate. Why not? Because it says that increasing the minimum wage will reduce the total number of min-wage jobs, and yet in a certain sector, increasing the minimum wage had no effect on such jobs.
The author argues that increasing the minimum wage doesnβt decrease the total number of min-wage jobs. But he only demonstrates that it doesnβt decrease the number of such jobs in one single sector. What happens in other sectors when the minimum wage increases? Do those jobs stay put too, or do they decrease? The author must assume that the min-wage job market at large behaves like it does in the fast-food sector when the minimum wage is increased.
The essayist's argument depends on ββββββββ βββββ βββ ββ βββ ββββββββββ
If laissez-faire economics βββββ ββ βββββββββ ββββββββββ βββββ βββ βββββββ βββββ ββββ βββ βββ βββββββββ ββ βββββββββββββ βββββββββ βββ βββββββββββ
Minimum-wage job availability ββ βββββββββ βββββββββββ ββββββββ ββ βββ βββββ βββ ββββββββββββββ ββ ββββββββββββ βββ ββββββββββββ ββ ββββββββ
No study has ββββ βββββ ββββ β ββββββββ βββ βββββββββ βββ ββββββ ββ βββ ββββββββββββ βββββββββ βββββ ββ ββββββββ ββ βββ βββββββ βββββ
The fast-food restaurants ββββββββ ββ βββ βββββ βββ βββ ββββββββ βββ βββββββ ββββ ββββ ββ ββββββββββ
The national unemployment ββββ βββ βββ ββββββββ βββββββββ βββ ββββββββ ββ βββ βββββββ βββββ